El Wadi reports EGP 26M
Updated 5/19/2021 1:49:00 PM
ArabFinance: El Wadi for International and Investment Development posted a net profit of EGP 26.082 million in 2020, according to the company’s unaudited financial statements filed to the Egyptian Exchange.
This marked a Year on Year (YoY) decline of 40% when compared to EGP 43.690 million in 2019.
Earlier, El Wadi approved selling 163,879 of its treasury stocks at the market price.
On March 19th, El Wadi's board of directors decided to purchase the stocks to support its share price amid the coronavirus pandemic.
El Wadi, formerly El Wadi Company for Touristic Investment, is an Egypt-based company engaged in the tourism investment sector. The company focuses on the establishment and operation of hotels, motels, hotel apartments, gymnasiums, and sauna facilities.
